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Bolivian President Evo Morales, on his first visit to Washington, addressed the Organization of American States (OAS) and a standing-room only audience of diplomats, scholars and students at the American University. Explaining the extraordinary transformations taking place in Bolivia in the past few years, his overall theme, as he himself defined, was visible change. Contrary to the Bush administration, who always antagonized him, and whose ambassador was declared persona non grata in Bolivia by the President, Evo Morales – who was called the Indian President – hoped bilateral relations under Obama – the Black President – will improve.

The richest 400 Americans — that’s right, just four hundred people — own MORE than the bottom 150 million Americans combined. 400 rich Americans have got more stashed away than half the entire country! Their combined net worth is $1.6 trillion. During the eight years of the Bush Administration, their wealth has increased by nearly $700 billion — the same amount that they are now demanding we give to them for the “bailout.” Why don’t they just spend the money they made under Bush to bail themselves out? They’d still have nearly a trillion dollars left over to spread amongst themselves!

Of course, they are not going to do that — at least not voluntarily. George W. Bush was handed a $127 billion surplus when Bill Clinton left office. Because that money was OUR money and not his, he did what the rich prefer to do — spend it and never look back. Now we have a $9.5 trillion debt. Why on earth would we even think of giving these robber barons any more of our money? Continue reading →

During the past decade, Latin America has become the most exciting region of the world. The dynamic has very largely flowed from Caracas, Venezuela, with the election of a leftist president dedicated to using Venezuela’s rich resources for the benefit of the population rather than for wealth and privilege at home and abroad, and to promote the regional integration that is so desperately needed as a prerequisite for independence, for democracy, and for meaningful development. The initiatives taken in Venezuela have had a significant impact throughout the subcontinent, what has now come to be called “the pink tide.” The impact is revealed within the individual countries, most recently Paraguay, and in the regional institutions that are in the process of formation. Among these are the Banco del Sur, an initiative that was endorsed in Caracas a year ago by Nobel laureate in economics Joseph Stiglitz; and the ALBA, the Bolivarian Alternative for Latin America and the Caribbean, which might prove to be a true dawn if its initial promise can be realized.

The ALBA is often described as an alternative to the US-sponsored “Free Trade Area of the Americas,” though the terms are misleading. It should be understood to be an independent development, not an alternative. And, furthermore, the so-called “free trade agreements” have only a limited relation to free trade, or even to trade in any serious sense of that term; and they are certainly not agreements, at least if people are part of their countries. Continue reading →

From midnight tonight, you can be one of the first people ever to legally download, for FREE, a brand new, feature-length film. Michael Moore’s new movie, “Slacker Uprising,” is being made available for free from various outlets in a bold move by the documentary maker.

There are a number of ways from midnight that you can download or stream “Slacker Uprising” thanks to distributor, Brave New Films:

1) Blip.tv will provide standard resolution streaming, free of commercials and advertising.
2) Amazon Video on Demand will provide a high quality version of the above stream.
3) iTunes will make it easy for you to download “Slacker Uprising” on your iTunes, iPod, or Apple TV, and view it there or transmit it to your television. This way, the film can be portable as well as for home viewing.
4) Hypernia is providing bandwidth, servers and management to host “Slacker Uprising” online, so you can download the film and view it at any time or burn it onto a DVD.

(For those of you who don’t download, there is a low-cost DVD available.)

The financial crisis gripping the U.S. has the largest banks and insurance companies begging for massive government bailouts. The banking, investment, finance and insurance industries, long the foes of taxation, now need money from working-class taxpayers to stay alive. Taxpayers should be in the driver’s seat now. Instead, decisions that will cost people for decades are being made behind closed doors, by the wealthy, by the regulators and by those they have failed to regulate. Continue reading →

The bankruptcy of Lehman Brothers–with more financial institutions to follow, no one knows how quickly–is the product of greed and deregulation embraced by Republicans and Democrats alike.

A Wall Street trader watches as the stock market crashes in reaction to the bankruptcy of Lehman Brothers (Zuma)

THE LATEST chaos on Wall Street–the worst financial upheaval in the U.S. since the Great Depression of the 1930s–highlights not just the scale of the world financial crisis, but the needless destruction caused by the blind competition at the core of capitalism.

The Wall Street crisis will almost certainly make the current economic slump worse. A shadow banking system beyond the reach of regulators in the U.S. or any other country is crashing down, destabilizing the world financial system. Even before the latest crisis, Bill Gross of Pimco, a big money-management firm, warned that an uncontrolled liquidation of debt by financial institutions “can turn a campfire into a forest fire, a mild asset bear market into a destructive financial tsunami.”

The risk of such a catastrophe is growing. As hundreds of billions of dollars in financial assets vaporize, banks will be forced to raise interest rates to increase the amount of money they have in their reserves. This, in turn, will cut off credit to business and consumers alike, further choking an anemic economy. Continue reading →